Crypto, AI, and accounting news

Switching gears: a quick dive into hot topics - from Coinbase's crypto accounting to SEC comments on beneficial ownership

I want to deviate from my standard concept of writing a longer, in-depth, data-driven piece about a particular company or trend and highlight several topics and discussions that drew my attention in the past several weeks. More specifically –

• A recap of my interview with MarketWatch about Coinbase’s accounting for crypto assets.

• A discussion about why depreciation expenses of large cloud providers could be understated.

• SEC enforcement of beneficial ownership rules and a potential uptick in SEC comments on 13D and 13G filings.

Coinbase and Block: non-GAAP accounting for crypto assets

Last week, I had an opportunity to discuss two of my favorite topics – non-GAAP reporting and SEC comment letters with MarketWatch. This time, in the context of the transition to a new FASB accounting standard for crypto assets, ASU 2023-08, which requires companies to recognize c…